Davos: President of the Republic of Azerbaijan Ilham Aliyev held a meeting in Davos with Larry Fink, CEO of BlackRock, and Adebayo Ogunlesi, Founding Partner and CEO of Global Infrastructure Partners (GIP), a member of the BlackRock group.

According to Azerbaijan State News Agency, the discussions centered on the status and future of cooperation between the State Oil Fund of the Republic of Azerbaijan (SOFAZ) and BlackRock. Potential investment opportunities in Azerbaijan's infrastructure sector were also explored. A significant outcome of these talks was the agreement on a Memorandum of Intent for long-term collaboration between SOFAZ, BlackRock, and GIP.

The Memorandum of Intent outlines a strategic framework for ongoing partnerships and investments, with SOFAZ planning to allocate up to $1.5 billion over the next few years into infrastructure funds managed by GIP. The cooperation aims to evaluate investment prospects in Azerbaijan's data centers and infrastructure for regional cloud and artificial intelligence needs, as well as potential partnerships in airport infrastructure, leveraging GIP's expertise.

The focus on evaluating investment opportunities in infrastructure assets related to Azerbaijan is a primary aspect of the cooperation. The Memorandum of Intent is expected to bolster SOFAZ's role in the global investment landscape, while expanding long-term investment prospects in Azerbaijan's key infrastructure sectors.

The meeting concluded with a ceremony for the exchange of the Memorandum of Intent, attended by the President of Azerbaijan.